Exploring the Two Primary Inventory Costing Approaches in the Wine Industry

The wine industry is not just about vineyards and vintages; it’s also a complex business that requires careful financial management to thrive. At the heart of this financial success lies an essential element: inventory costing. At Protea Financial, we want to explore the wine industry’s two primary inventory costing approaches, shedding light on their benefits and…
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Mastering Wine Reconciliation: Best Practices for Wineries

Do you own or manage a winery? If so, you know that keeping track of your wine inventory and financial transactions can be a complex task. With bottles coming in and out of your cellar, sales happening both in-person and online, and various expenses to account for, it’s easy for things to get tangled up….
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Thanksgiving Reflections: A Message of Gratitude from Protea Financial

As Thanksgiving approaches, it’s a time to pause and reflect, a moment to express our heartfelt gratitude and appreciation. Here at Protea Financial, often referred to lovingly as the Protea family, we are embracing this season of thankfulness with open arms. To Our Exceptional Team: Firstly, to our incredible team: your fortitude, diligence, and unwavering…
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Lease Accounting: What You Need to Know For Your Winery

You may have heard of the updated lease accounting standard, but as a business owner, it wouldn’t be a stretch to assume you might not have given it another thought if you’d heard of it all. If you’re unfamiliar with ASC842 and wondering if it impacts you, this piece is highly beneficial and worth a…
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Common Financing Options for Business Owners

Are you a business owner looking to take your company to new heights? Scaling and operating a successful business often requires extra financing. But with so many options available, how do you know which one is best for your unique needs? That’s where the financial experts at Protea Financial come in! We’re here to help you navigate…
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